Oil – Page 15 – THE OVAL CIRCLE

Crude oil flow from Saudi Arabia to US falls to ZERO

Posted on January 9, 2021January 9, 2021By Editor

For the first time in 35 years, no oil flowed from Saudi Arabia to the United States last week, according to EIA data, in a show that the US — at least for now — isn’t as reliant on oil from the Middle East like it used to be. … Read More >Crude oil flow from Saudi Arabia to US falls to ZERO

Business

Russia’s oil output plunges to LOWEST in nearly a decade

Posted on January 3, 2021January 3, 2021By Editor

Oil and condensate production in Russia fell for the first time in 12 years and reached nine-year lows in 2020, as one of the major global oil exporters supported the historic OPEC+ deal to boost a pandemic-hit energy market. … Read More >Russia’s oil output plunges to LOWEST in nearly a decade

Business

Russia plans to boost oil production next year under OPEC+ agreement

Posted on December 26, 2020December 26, 2020By Editor

Russia will support hiking production under the historic OPEC+ accord by 500,000 barrels a day in February if the market continues to stabilize, the deputy prime minister in charge of the energy sector, Alexander Novak, has said. … Read More >Russia plans to boost oil production next year under OPEC+ agreement

Business

Russia looking to bolster oil supplies to India for decades ahead

Posted on December 23, 2020December 23, 2020By Editor

Russia retains a solid place in the Indian energy market, and wants to expand its oil exports to the South Asian country, says Russian Ambassador to India Nikolai Kudashev. … Read More >Russia looking to bolster oil supplies to India for decades ahead

Business

Russia getting off the oil needle, Putin says

Posted on December 18, 2020December 18, 2020By Editor

A third of the Russian budget is no longer dependent on oil and gas revenues, said President Vladimir Putin on Thursday, during his annual December press conference. … Read More >Russia getting off the oil needle, Putin says

Middle East

Two Bombs Reportedly Dropped on Oil Wells in Kirkuk, Iraq

Posted on December 10, 2020December 10, 2020By Editor

The ancient city of Kirkuk and capital of an eponymopus governorate, is located 238 kilometres (148 miles) north of Baghdad. … Read More >Two Bombs Reportedly Dropped on Oil Wells in Kirkuk, Iraq

Business

Iran sends BIGGEST EVER fleet of oil tankers to Venezuela, defying US sanctions – report

Posted on December 8, 2020December 8, 2020By Editor

Iran is sending a large fleet of oil tankers to Venezuela to help the Latin American nation survive a severe lack of fuel, Bloomberg has reported, citing sources. Both countries are facing US sanctions targeting their oil trade. … Read More >Iran sends BIGGEST EVER fleet of oil tankers to Venezuela, defying US sanctions – report

Business

Time for record global oil demand may have already passed, Russia says

Posted on December 7, 2020December 7, 2020By Editor

Days of peak oil consumption might be over for the global economy and the trend may impact Russia’s budget revenues, the country’s Deputy Finance Minister Vladimir Kolychev has warned. … Read More >Time for record global oil demand may have already passed, Russia says

Business

Saudi oil exports to US slump to 35-year low

Posted on December 6, 2020December 6, 2020By Editor

Saudi Arabia’s crude oil exports to the United States fell to the lowest in 35 years in October, averaging less than 100,000 bpd. … Read More >Saudi oil exports to US slump to 35-year low

Latin America

Venezuela Reportedly Increases Oil Exports Despite US Sanctions Pressure

Posted on December 2, 2020December 2, 2020By Editor

US President Donald Trump’s administration has been seeking to unseat elected Venezuelan President Nicolas Maduro for several years using economic sanctions pressure. Caracas, has, in turn, accused Washington of orchestrating several unsuccessful coup attempts in the country. … Read More >Venezuela Reportedly Increases Oil Exports Despite US Sanctions Pressure

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